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Sands China Reports US$549 Million Net Loss for Q2 2020

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Sands China Ltd (SCL) has reported a loss of US$549 million for the three months to 30 June 2020, down from a net income of US$511 million in Q2 2019.

The figures, released by parent company Las Vegas Sands (LVS), reflect the tight border restrictions in place during the quarter to limit the spread of COVID-19, with SCL reporting a 98.1% decline in net revenues to just US$40 million.

Those revenues included just US$28 million at the Venetian Macao, down from US$854 million during the same quarter last year, US$10 million at Sands Cotai Central (down from US$483 million) and US$23 million at The Plaza and Four Seasons from US$211 million a year ago. The Parisian Macao reported a net revenue loss of US$19 million compared with net revenues of US$414 million in Q2 2019.

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The Venetian Macao fell to an Adjusted EBITDA loss of US$97 million, Sands Cotai Central a loss of US$79 million and the Parisian Macao a loss of US$81 million. Adjusted EBITDA loss for all Macau operations totaled US$312 million.

LVS, which suffered a group-wide loss of US$985 million in 2Q20 on net revenues of just US$98 million, revealed capital expenditure of US$382 million for the quarter of which US$337 million was in Macau, where the company is transforming Sands Cotai Central into The Londoner Macao.

“I am pleased to say that the early stages of the recovery process from the COVID-19 pandemic in each of our markets is now underway,” said LVS Chairman and CEO Sheldon Adelson.

“Our greatest priority during this period of the recovery remains our deep commitment to supporting our team members and to helping those in need in each of our local communities of Macau, Singapore and Las Vegas.

“We remain optimistic about an eventual recovery of travel and tourism spending across our markets, as well as our future growth prospects. We are fortunate that our financial strength will enable us to continue to execute our previously announced capital expenditure programs in both Macau and Singapore, while continuing to pursue growth opportunities in new markets.”

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DSTGAMING to Participate in ASEAN Gaming Summit 2025

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DSTGAMING is going to Participate in the ASEAN Gaming Summit 2025, taking place on March 17-19 at Shangri-La The Fort, BGC, Manila. At Stand AGSB01, the company will showcase its latest innovations.

The company said: “We are excited to announce our participation in the ASEAN Gaming Summit 2025, taking place from March 17-19 at Shangri-La The Fort, BGC, Manila. As one of the leading providers of cutting-edge iGaming solutions, we look forward to engaging with industry leaders, partners, and innovators to explore the future of gaming technology. We are looking forward to meeting you at Stand AGSB01 at this event.

“Southeast Asia’s gaming industry is evolving rapidly, and we are committed to staying ahead of the curve with advanced solutions that empower operators and enhance market growth. At the summit, we will showcase our advancements in gaming technology, including seamless payment integrations, and highly customizable platform solutions tailored to the needs of both new and established businesses.

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“The ASEAN Gaming Summit is known for fostering industry collaboration and discussions on regulatory trends, technological advancements, and business strategies. With regulatory landscapes in the region constantly shifting, we provide flexible, scalable, and fully compliant solutions to help operators confidently navigate these challenges.

“Attendees visiting our exhibit will get an exclusive look at our state-of-the-art tools designed to boost player engagement, streamline operations, and ensure a secure and immersive gaming environment. From AI-powered personalization features to multi-currency and crypto-friendly payment systems, DSTGAMING technology is built to meet the demands of a dynamic market.

“As the Asian gaming industry continues to grow, DSTGAMING remains dedicated to equipping our partners with the necessary tools, expertise, and support to achieve long-term success. Join us at the ASEAN Gaming Summit 2025 and discover how our innovative solutions can help you thrive in the competitive iGaming landscape. We invite all attendees to visit us at Stand AGSB01 to explore our full suite of solutions.”

The post DSTGAMING to Participate in ASEAN Gaming Summit 2025 appeared first on European Gaming Industry News.

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MiFinity Expands Payment Options in Asia, Strengthening Regional Commitment

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MiFinity, a trusted global eWallet provider serving merchants and consumers worldwide, is deepening its presence in Asia with additional local payment options. As part of its continuous commitment to supporting the region’s surging digital economy, MiFinity has launched Rabbit Line Pay in Thailand alongside LinkAja and direct bank transfer in Indonesia, with more payment methods slated for integration throughout 2025.

MiFinity has built a strong reputation as a go-to payment provider for businesses breaking into new markets, particularly those requiring fast, secure, and fully compliant transaction solutions. With a highly engaged and rapidly growing user base, MiFinity eWallet users in Asia are actively transacting across a variety of digital services, making MiFinity a strategic partner for merchants looking to boost conversion rates, improve customer satisfaction, and strengthen trust across the region.

Commenting on this expansion, Paul Kavanagh, CEO of MiFinity, said: “Asia represents a key growth market for MiFinity, and we are committed to providing merchants with the best possible solutions to reach their customers in this region. By integrating popular local payment methods and expanding our currency support, we are making it easier for businesses to offer seamless, trusted payment experiences. Our investment in the region underscores our dedication to supporting both our merchants and our highly engaged eWallet users, ensuring they have access to the payment options that best suit their needs.”

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Supporting Asia’s Thriving Digital Economy

The digital payments market in Asia is experiencing significant growth, driven by increasing smartphone penetration, rising financial inclusion, and the booming demand for digital services. According to industry research, Southeast Asia alone is home to over 350 million digital wallet users, with eWallet transactions projected to account for a growing share of online payments.

For merchants looking to expand into these high-growth markets, offering trusted, localised payment options is essential to attracting and retaining customers. By integrating Rabbit Line Pay, LinkAja, and direct bank transfers, MiFinity provides businesses with the tools they need to tap into these opportunities, delivering seamless payment experiences that align with local consumer preferences.

Continued Growth and Future Expansions

The rollout of Rabbit Line Pay, LinkAja, and Indonesian bank transfers marks the newest milestone in MiFinity’s widening footprint in Asia, with additional payment integrations scheduled for later in 2025. As appetite for digital wallet transactions and alternative payment methods accelerates, MiFinity remains committed to evolving its offerings, empowering merchants to capture new customers and deliver secure, consumer-centric payment experiences across Asia’s diverse markets.

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Thailand: Requirement of B50M in Account for Casino Entry Removed

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The Thailand’s Entertainment Complex Bill has been amended, removing the requirement that Thais must show they have at least 50 million in a fixed deposit before being allowed into the planned casino-entertainment complex.

It has been replaced by the need to have filed three-years of income tax returns.

The requirement is in Section 65 of the draft Entertainment Complex Bill, which has been under scrutiny by the Council of State, the government’s legal advisory body.

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Deputy Prime Minister and Minister for Finance Pichai Chunhavajira said the draft had now been reviewed by the council and revisions proposed to meet its objectives, including listening to feedback from the public.

The revised draft legislation had been signed by Deputy Prime Minister and Interior Minister Anutin Charnivirakul and sent to the cabinet secretariat on Feb 28, but it would not be on this week’s cabinet agenda, Mr Pichai said.

The process prior to submitting the bill to the cabinet would take about two weeks, he said.

Deputy Finance Minister Julapun Amornvivat confirmed that the 50 million baht requirement for casino entry had been removed and replaced by the requirement that Thais must have submitted three-years of tax returns.

The casino entrance fee remained at 5000 baht, he said.

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“The Ministry has checked the data and found there are only 10,000 Thai accounts with at least 50 million baht. So, the former requirement would push people to gamble elsewhere, which could be illegal. This amendment has been agreed on by the ministry and the Council of State,” Mr Julapun said.

He said the draft bill would be submitted to the cabinet for approval as soon as possible. He expected this would be during the current parliamentary session.

On Monday, representatives of several protest groups – the Network of Students and People for Thailand’s Reform, the Centre of People for the Protection of the Monarchy, and the Dharma Army – gathered near government house in Bangkok.

They submitted a letter to the prime minister opposing passage of the legislation. They argued that it would be harmful to the people, the country and the principles of all religions.

The post Thailand: Requirement of B50M in Account for Casino Entry Removed appeared first on European Gaming Industry News.

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